Civista Bancshares, Inc. (NASDAQ:CIVB) Raises Dividend to $0.17 Per Share

Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Tuesday, February 4th will be given a dividend of 0.17 per share by the bank on Tuesday, February 18th. This represents a $0.68 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, February 4th. This is an increase from Civista Bancshares’s previous quarterly dividend of $0.16.

Civista Bancshares has increased its dividend payment by an average of 7.2% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Civista Bancshares has a dividend payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Civista Bancshares to earn $2.08 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 30.8%.

Civista Bancshares Trading Up 0.6 %

NASDAQ CIVB opened at $21.19 on Friday. Civista Bancshares has a 12 month low of $13.60 and a 12 month high of $23.69. The company’s 50-day moving average price is $21.62 and its 200-day moving average price is $19.06. The stock has a market cap of $333.53 million, a PE ratio of 10.54 and a beta of 0.82. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.09. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. The firm had revenue of $62.43 million during the quarter, compared to the consensus estimate of $37.60 million. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Equities research analysts forecast that Civista Bancshares will post 1.92 earnings per share for the current year.

Analysts Set New Price Targets

CIVB has been the topic of several recent research reports. Stephens increased their target price on shares of Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods boosted their price target on Civista Bancshares from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Civista Bancshares has a consensus rating of “Moderate Buy” and an average price target of $21.75.

About Civista Bancshares

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. It collects a range of customer deposits; and offers commercial and agriculture, commercial and residential real estate, farm real estate, real estate construction, consumer, and other loans, as well as letters of credit.